While you may not be a Hollywood star; if you own assets, you need to be financially protected. The news is riddled with celebrities who have gone bankrupt; MC Hammer, Evander Holyfield, Willie Nelson, Hulk Hogan, the list goes on and on. How could someone who earns more than 99% of the general public declare bankruptcy? Let’s examine some financial no no’s and how to avoid financial trouble.
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Archive for the 'Umbrella' Category
Haven’t you heard about the commonplace story where someone got sued for a large amount but the insurance company was able to pay only 60 percent of the amount or so? Let’s say that you are sued by another person and the court awards him a far greater compensation than what you can afford. In other words, your insurance company is able to cough up an amount that is less than what the court directed you to give to the other guy. Now you, the policy holder, has to pay additional amount from his own pocket.
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If you are planning to buy a house and make use of your house as a collateral, then you must apply for a mortgage loan. You must be aware that in case you are unable to repay your collateral will be confiscated. You will lose your house due to non payment of secured loan. Therefore, if you feel you may be unable to make your payments at some point of time, then, it is better you opt for mortgage protection cover! This will protect you from any loan defaults. Read on to find out how?
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How do you make sure the income protection policy you are selecting is right for you? Here are the key areas of income protection to think about when purchasing this cover.
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Lottery Winners’ Liability – Best Defense Against Frivolous Lawsuits is an Umbrella Insurance Policy
Picture this scenario – You win the lottery and you start to buy the things you’ve always dreamed of. You buy a big, beautiful house, a new luxury car, a shiny yacht. You might say to yourself, “Forget about insurance – If anything happens to my property, I have enough money to just replace it.” This may be true, but you probably haven’t considered liability, especially since you are rich and have just become a target for lawsuits, especially frivolous lawsuits. A good umbrella insurance policy would cover this.
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Everyone buys insurance. You have to if you drive or own a home. It’s a good idea even if you don’t. But how do you know how much insurance to get? There’s no sense in paying for insurance you don’t need, but you want to make sure you’re covered.
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I get a lot of questions about Umbrella Policies. The biggest one is “Should I get one?”, in a simple answer… yes. Insurance is there to protect you, to help you in a financial loss, but it’s also there to help you when you are liable in an accident.
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Payment Protection Insurance (PPI) is a loan that is provided to cover a debt that is presently outstanding. It is an insurance product in the form of loan or an overdraft, and is commonly sold by banks, insurance companies and other credit providers as an add-on to the loan or overdraft.
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Peace of mind could be worth a lot. That is why I suggest having an umbrella insurance policy. It shields you from liability from charges that go beyond what your traditional insurance covers. In this article I will tell you why and you should have an umbrella policy and how to obtain one.
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Why do you carry an umbrella? The easy answer is so that you protect yourself from the rain, right? Well, not exactly.
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